Risk Desk Editor John Sodergreen examined the evolution of the financial technology ("Fintech") industry in light of a recent Risk Desk interview, in which Acting Chair J. Christopher Giancarlo indicated his intention to "embrace Fintech to a level not seen before at the agency."
Mr. Sodergreen quoted Acting Chair Giancarlo:
"We need to make the CFTC a 21st-century digital regulator and no longer an analog regulator. If we don't know how blockchain works, how can we ever benefit from it? We need to partner with Fintech companies to raise our game."
Mr. Sodergreen also highlighted a February 2017 IOSCO report noting that "[r]egulators back home and abroad are really thinking about this stuff."
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